Pending home sales in April unnerved a lot of people. At what should have been a high point in the spring market, they fell 4.4 percent from the previous month and the National Association of Realtors'® (NAR's) Pending Home Sales Index (PHSI) neared the 20-year old benchmark of 100. Every consensus estimate from analysts that we could find was badly off the mark. They are widely off again this month , but the industry's reaction is probably quite different. Rather than the 0.8 and 2.0 percent declines expected by analysts polled by Econoday and Trade Economics, respectively, May's PHSI soared 8.0 percent higher than in April and was up 13.1 percent from May 2020. The Index, based on contracts signed to purchase existing single-family homes, townhouses, condos, and cooperative apartments

July 2, 2021 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Jul 2, 2021 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.45 -0.13   95.05 100.47 UMBS 30YR 5.5 101.00 -0.04   97.47 101.61 10 YR Treasury 4.121 +0.040   3.706 4.780 MBS Price Change UMBS 4.5 97.45 -0.18 UMBS 5.0 99.54 -0.05 UMBS 5.5 101.04 +0.01 GNMA 4.5 97.54 -0.48 GNMA 5.0 99.74 -0.09 GNMA 5.5 100.91 +0.03 Pricing as of: 9/18 1:39PM EST US Treasury Yield Change 2 YR Treasury 3.567 +0.003 5 YR Treasury 3.664 +0.008 7 YR Treasury 3.854 +0.015 10 YR Treasury 4.105 +0.025 30 YR Treasury 4.719 +0.031 Pricing as of: 9/18 1:39PM EST Other News Pending Home Sales Fired Up After April Slump Thu, Jul 1, 2021 11:25AM Pending home sales in April unnerved a lot of people. At what should have been a high point in the spring market, they fell 4.4 percent from the previous month and the National Association of Realtors'® (NAR's) Pending Home Sales Index (PHSI) neared the 20-year old benchmark of 100. Every consensus estimate from analysts that we could find was badly off ... (read more) Residential Projects Continue to Drive Construction Spending Thu, Jul 1, 2021 11:27AM Construction spending fell off a bit in May, however residential construction remains the strongest sector , accounting for more than half the annualized private sector expenditures for the month. Total construction dollars spent during the month were at a seasonally adjusted annual rate of $1.545 trillion, down 0.3 percent from April but 7.5 percent higher ... (read more) AE, MLO, Underwriter Jobs; ECOA, Productivity, QC Tools; Agency Updates; Jobs Report and Mortgage Rates Fri, Jul 2, 2021 11:27AM I realize that this is a commentary about lending, but it is good for MLOs to be cognizant of what their real estate agent client’s clients want… In a kitchen. And here’s a handy dandy chart from builders showing popular kitchen features . My grandmother had one, and I want one: a walk-in pantry! Lots of people want lower rates, despite th... (read more) Latest Video Fed is on track to announce tapering plans in September, says BofA's Meyer U.S. added more jobs than expected in June — Seven experts react The 9am Bond Report - July 2, 2021 June jobs report looks like Goldilocks number for markets, says BlackRock's... Around the Web Calculated Risk Blog Trade Deficit Increased to $71.2 Billion in May Calculated Risk Blog Q2 GDP Forecasts: Revised Down, under 10% Calculated Risk Blog Comments on June Employment Report CNBC Mortgage servicers brace for fallout as Covid bailout comes to an end Calculated Risk Blog June Vehicles Sales Decreased Sharply to 15.36 Million SAAR CNBC U.S. adds 850,000 jobs in June, better than expected CNBC Manhattan real estate prices reach record as buying 'frenzy' takes hold CNBC 10-year Treasury yield dips below 1.45% ahead of June jobs report Calculated Risk Blog June Employment Preview Calculated Risk Blog Goldman June Payrolls Preview Reuters S&P 500 kicks off quarter with sixth straight record close in sight CFPB CFPB Consumer Complaint Bulletin Highlights Consumers' Difficulties During Pandemic CFPB As Federal Eviction Protections Come to an End, CFPB Warns Landlords and Consumer Reporting Agencies to Report Rental Informatio...

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